Hiring gain sends stocks higher in midday trading
NEW YORK (AP) — Stocks are edging higher in midday trading following news that business hiring surged in June.
The report comes a day after good news on manufacturing drove the market to another all-time high.
Constellation Brands, the owner of Corona and Negra Modelo beer, rose 3 percent after the company said its income soared in the latest quarter.
The Dow rose 12 points, or 0.1 percent, to 16,969 as of noon Eastern time Wednesday.
The Standard & Poor’s 500 index rose a point to 1,974 and the Nasdaq rose four points, or 0.1 percent, to 4,462.
Payroll processer ADP said U.S. businesses added 281,000 jobs last month, up from 179,000 in the previous month.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.61 percent.